Private sector Banks retail slippages are once again on the rise
August 02, 2022
According to the report, major private banks such as ICICI Bank, IndusInd Bank, Axis Bank, and Yes Bank have reported higher slippages in retail books due to micro-loans, credit cards, and vehicle loans, but there is no cause for concern.
The second largest private lender in India, ICICI Bank, in the June quarter, reported a 50 per cent YoY growth in standalone profit at ₹6,905 crore as against a profit of ₹4,616 crore in the June 2021 quarter.
Net interest income increased by 20.8 per cent in the June quarter to ₹13,210 crore, up from ₹10,936 crore in the same period the previous fiscal. The net interest margin came in at 4.01 per cent for the June ending quarter.
However, the bank reported slippages of ₹5,037 crore in retail loans, including rural and business banking loans, in the June quarter, compared with ₹788 crore for corporate and SME loans.